alexkyp

CADCHF potential BUY

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
The pair has been oversold and USDCAD overbought more than 200 pips.
USDCHF is currently trapped around the 1.00 are so if USDCAD plays well we can expect this cross-pair to follow the chart pattern and try to reclaim the 0.76 area.
Also is currently forming the second leg for a W formation on the 4hr timeframe and is approaching the psychological line of 0.75 where there is a lot of support